10 Ways to Secure a Quick Loan in Texas

What if you need money fast and you don’t know what to do?

There are times you just need a quick loan in Texas, but you may not have a great credit history. Fortunately, that doesn’t mean you can’t get the money you need.

There are different ways to secure the money you need exactly when you need it. Keep reading to discover how to get started!

1. Apply For a Quick Loan Online

If you’re looking for a quick loan, you should consider applying online. This gives you more places to apply to while saving you time.

Going may seem obvious, but most people think they can only get a quick personal loan in person. Even if you have “struck out” with local banks and credit unions, there are other lenders online.

2. Compare Rates and Offers

The other big advantage of applying online is that you can quickly get offers from multiple lenders. This gives you the chance to compare different rates and offers.

It’s important to pay attention to the interest rates you are offered. If you will be paying this loan back over years, then small differences in interest will really add up over time.

3. Check Your Credit

Our guide will help you find a personal loan even if you have bad credit. But if you’re not sure whether you have a low credit score, you should sign up for a free credit monitoring service.

These services can tell you whether your credit is good, bad, or somewhere in the middle. They can also give you easy ideas to help you repair your credit in very short order.

Credit reports also help you detect mistakes in your credit history. By fixing these mistakes (for example, letting credit unions know you already paid off that old debt), you can instantly boost your credit.

4. Research Lenders Before Applying

Speaking of credit, multiple “hard” credit checks on you from multiple lenders can lower your score. To keep this from happening, we recommend you do your research on lenders before applying.

Basic research will tell you whether a lender is reputable or not. And you can also discover the kinds of loans, loan amounts, and loan terms the lender normally gives out.

With this research, you can narrow down the number of lenders you apply to. And this can help reduce the hit your credit takes by reducing how many hard credit checks you get.

5. Do Your Personal Loan Homework

Even if you have a low credit score, you may be surprised by how many loans you qualify for. Before you pull the trigger on any of them, it’s important that you understand what each loan is.

For example, do you know the difference between a personal loan and a payday loan? And the differences between a secured loan and an unsecured loan?

Learning more about different types of loans can help you find the best one. It can also help you find the best lender for your needs.

6. Stay Organized

Applying for loans online can make the whole process easier. But if you really want to make things easier on yourself, it’s important to get organized and then stay organized.

For example, you may need to provide a government-issued ID such as your license or passport to apply. You may need recent photographs, proof of your address (such as a utility bill), and proof of income (such as a recent paystub).

By keeping all of these documents in one place, you can make it easier for yourself when you want to apply for a loan. 

7. Avoid Payday Loans

If you have bad credit, you may think payday loans are the answer because they don’t require a credit check. However, we recommend you avoid these kinds of loans at all costs!

Most payday loans are predatory. They feature a very high-interest rate and must be paid back very quickly (the standard is to pay the loan back within one month’s time).

If you rely too much on payday loans, you could sink into debt that is difficult to escape. We recommend instead getting a personal loan with a competitive interest rate.

8. Borrow as Little as You Need

No matter what kind of loan you get, it is important to borrow as little as possible. In other words, you should only borrow as much money as you actually need.

When you realize how much money you qualify for, it can be tempting to get as much as possible. In fact, you may start thinking of everything you could do with that extra cash.

But remember, you’re only borrowing money now because you didn’t have enough cash to begin with. Borrowing more than you need is a bad idea because it will be that much harder to pay back.

9. Disclose All Income

How much money you qualify for is based in part on your income. That is why you need to disclose all of your income to the lender.

This is important these days because so many people have a “side hustle” (or two, or three) to help bring in extra money. So if you only bring in a paystub from your “day job,” you’re not telling the lender how much you actually make.

Be honest about other sources of income. It may help you qualify for loans and even get a better rate!

10. Always Pay On Time

It’s important to always pay current loans on time. This keeps your credit in good health and helps you qualify for new loans.

Once you start monitoring your credit history, you can see just how much late payments lower your credit score. Once you get a new loan, we recommend setting up an auto-pay or at least a reminder system so you never end up missing another payment!

Get the Quick Loan You Need Today!

Now you know how to get a loan even if you have bad credit. But do you know how to get a quick loan offer at the click of a button?

Here at FastLoanDirect, we make it quick and easy to get the cash you need. In fact, all you have to do is apply online today!